Mumbai (Maharashtra) [India], August 29 : Reliance Industries Chairman and Managing Director Mukesh Ambani announced on Friday that Jio will file for its much-awaited initial public offering (IPO), with plans to list by the first half of 2026.
It would however be subject to necessary approvals, he said.
Addressing shareholders at 48th AGM, Mukesh Ambani described the move as a milestone that will showcase Jio's ability to create value comparable to its global counterparts.
"It is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026. I assure you that this will demonstrate Jio's capability to create the same quantum of value as our global counterparts," Ambani said.
"I am sure that it will be a very attractive opportunity for all investors," he supplemented.
Mukesh Ambani highlighted five major achievements by Jio that he said were once unimaginable in India's telecom and digital ecosystem. Jio, he said, was the first to make voice calls free across India. The company made it routine for Indians to watch videos and conduct digital payments seamlessly on their phones.
Mukesh Ambani said Jio played a crucial role in enabling platforms like Aadhaar, UPI, and Jan Dhan direct transfers, empowering a new generation of Indians.
He added that the company helped fuel the rise of the world's third-largest startup ecosystem, with India now home to over 100 unicorns.
Jio's rapid 5G deployment, the fastest globally, has laid the groundwork for India's artificial intelligence revolution. "Jio's nationwide 5g roll out, the fastest in the world, has laid the foundation for the AI revolution in India," he said.
Ambani also underscored Jio's strong financial performance. For FY 2024-25, Jio reported revenues of Rs 128,218 crore, a 17% year-on-year growth, and an EBITDA of Rs 64,170 crore.
"These figures are a testimony to the enormous value Jio has already created, and the still greater value is destined to create," he noted.
The AGM last year was also held on August 29. Reliance Industries has begun FY26 with a robust, all-round operational and financial performance.
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